AKVA group’s third quarter results show revenues and profits were down in 2012 compared to last year, but the numbers didn’t come as a big surprise due to dips in prices, CEO Trond Williksen said.
“We achieved operational and financial performance in accordance with our expectations in the third quarter,” he said. “Activities were influenced by low salmon prices impacting investments by our customers, especially in Chile.”
According to the report, 2012 Q3 revenues stand at NOK 202.0 million (USD 35.4 million, EUR 27.3 million), down from NOK 226.7 million (USD 39.8 million, EUR 30.6 million) during the same time period in 2011. EBITDA was at NOK 12.5 million (USD 2.2 million, EUR 1.7 million), down from NOK 22.0 million (USD 3.9 million, EUR 3 million), and EBIT was at NOK 4.2 million (USD 738,000, EUR 567,000), down from NOK 13.8 million (USD 2.4 million, EUR 1.9 million) reported in the third quarter 2011. Revenues remain strongest in the Scandanavian and Chilean markets.
“We experienced growth in order inflow in the very end of the quarter and we see positive signals in the market, especially in the Nordic region,” Williksen said.
The report also noted total assets in the third quarter are NOK 667.3 million (USD 117.2 million, EUR 90.1 million) and total equity amounted to NOK 346.5 million (USD 60.9 million, EUR 46.8 million), which created an equity ratio of 51.9 percent, versus 44.9 percent at the beginning of the year.
